Algarve Housing Market Update
House prices in the Algarve rose by 8.7% in September compared to the same month last year, according to the idealista price index. The median cost of buying a home reached 3,819 euros per square meter at the end of September, with a quarterly variation of 2.9%.
Municipal Price Variations
Among municipalities recording the highest annual increases, São Brás de Alportel led with a 20.2% surge, followed by Portimão with 16.1% growth. Other significant increases included:
- Faro: 11.8%
- Albufeira: 11.2%
- Lagos: 9.6%
- Tavira: 8.2%
- Olhão: 7.8%
- Loulé: 7.0%
- Silves: 5.8%
- Vila Real de Santo António: 5.2%
- Vila do Bispo: 4.6%
- Lagoa: 4.5%
In contrast, prices decreased in Aljezur (-3.3%) and Castro Marim (-6.0%), while Monchique remained virtually unchanged from the previous year.
Most Expensive Municipalities
Loulé remains the most expensive municipality for home purchases at 4,510 euros/m², followed by:
- Lagos: 4,402 euros/m²
- Albufeira: 3,839 euros/m²
- Vila do Bispo: 3,817 euros/m²
- Lagoa: 3,773 euros/m²
District Capitals and Autonomous Regions
House prices increased across all 19 district capitals and autonomous regions analyzed in September. The largest annual increases were recorded in:
- Beja: 33.9%
- Santarém: 26.7%
- Guarda: 20.5%
Lisboa continues to be the most expensive city for home purchases at 5,824 euros/m², followed by Funchal (3,879 euros/m²) and Porto (3,826 euros/m²).
Regional Analysis
Across Portugal's regions, housing prices increased in all areas over the past 12 months. The Autonomous Region of the Azores led with 18.3% growth, followed by:
- Alentejo: 17.3%
- Autonomous Region of Madeira: 14.9%
- Center: 9.4%
- Algarve: 8.7%
- Lisbon Metropolitan Area: 8.4%
- North: 7.3%
The Lisbon Metropolitan Area remains the most expensive region at 4,119 euros/m², followed by the Algarve (3,819 euros/m²) and the Autonomous Region of Madeira (3,631 euros/m²).
About the idealista Price Index
The idealista real estate price index analyzes asking prices (based on built square meters) published by idealista advertisers. The methodology excludes atypical listings and prices outside market norms, includes single-family homes, and discards listings that have been inactive for extended periods. The final result is obtained through the median of all valid listings in each market.
The complete report is available at: https://www.idealista.pt/media/relatorios-preco-habitacao/venda/
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